Ghana’s annual inflation rate accelerated for the seventh straight month to 12.6% in December of 2021, from 12.2% in November.
That was the highest rate since May of 2017, exceeding the Bank of Ghana’s target band
of 6% to 10% for a fourth straight month. Non-food price growth accelerated to 12.5% from 11.6% in November, amid rising prices of housing & utilities (20.7%) and transportation (17.6%); while food inflation slowed to 12.8% from 13.1%.
On a monthly basis, consumer prices went up 1.2%, following a 1.4% increase in the prior month.